Seritage Growth Properties is a publicly traded, self-administered, self-managed REIT primarily engaged in the real property business through its investment in its operating partnership, Seritage Growth Properties, L.P. Upon consummation of the transaction with Sears Holdings, our portfolio will contain 235 properties, consisting of approximately 42 million square feet of building space, which is broadly diversified by location across 49 states and Puerto Rico. The portfolio consists of 84 properties operated under the Kmart brand, 140 operated under the Sears brand, and eleven properties leased entirely to third parties. Under a master lease agreement, Seritage will lease back all but 11 of such properties to Sears Holdings under specified terms, including Seritage's right to recapture certain space from Sears Holdings at each property. Third parties under existing leases also occupy a portion of the overall leasable space alongside Sears and Kmart. In addition, Seritage has 50% interests in 12 additional properties through our investment in a joint venture with General Growth Properties, 10 additional properties through our investment in a joint venture with Simon Property Group, and 9 additional properties through our investment in a joint venture with Macerich.